Central Bank of Russia

[4] Shortly after declaring sovereignty in June 1990, the Russian SFSR decreed the creation of a central bank under the leadership of Georgy Matiukhin [ru].[15] In October 2023 western firms that wanted to exit the Russian economy were doubly fleeced when they were told about extraordinary capital controls.[16] On 15 July 2024 the CBRF closed the statistics of the over-the-counter currency market; at the time it was under pressure from international sanctions over the Russian invasion of Ukraine.[18] In September 2024 it was reported that the RCB had allowed the Rosoboronexport to buy US banknotes from the Rwandan Ministry of Defence while entities in Russia were interdicted from having US currency.After pointed date functions and powers of CBR were significantly expanded and the central bank received the status of a mega-regulator of all financial markets of Russia.The RNRC was established in July 2016 to prevent possible problems with reinsurance of large risks under international sanctions during the Ukrainian crisis, like constructing the Crimean Bridge.In particular, the Fincult project is developing a website with materials aimed at improving financial literacy of the population, combating fraud through a description of all fraudulent schemes.Thus, people can form additional capital for their priority goals in the future, for example, to buy a home or educate children, create a financial "safety cushion" or use this money as an increase to a pension, she said in an interview Bankiros.ru representative of the Central Bank of the Russian Federation Larisa Pavlova.In December 2014, amidst falling global oil prices, international sanctions during the Russo-Ukrainian War, capital flight, and fears of recession, the bank had increased the one-week minimum auction repo rate up by 6.5 points to 17 percent.[42] At the end of May 2022, three months into the invasion of Ukraine, the central bank cut interest rates in an effort to prop up the increasingly isolated Russian economy, suffering shortages and supply chain issues.

Russian postage stamp sheet in commemoration of 150-year anniversary of setting up of Bank of Russia.

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